OCI Holdings Co plans is spending US$265 million (RM1.17 billion) to build a solar cell production facility in Texas with the supply chain using non-China polysilicon from its Malaysian unit OCI TerraSus.
(March 20): OCI Holdings Co plans to spend US$265 million (RM1.17 billion) building a solar-cell production facility in Texas, despite shifting priorities around clean energy in the US following the election of Donald Trump as president.
The plant is expected to have production capacity of around two gigawatts of solar cells, with commercial operations slated to start by 2026, according to a statement from the South Korean company on Thursday. The project will be developed by OCI’s US subsidiary, Mission Solar Energy.
OCI plans to build a solar supply chain using non-China polysilicon from its Malaysian unit OCI TerraSus, as Chinese imports face growing US trade restrictions, according to the statement.
Despite policy uncertainties in the US, OCI will benefit from tax credits under the Inflation Reduction Act, which was initiated by former US president Joe Biden. These incentives are driving investment in US solar manufacturing, particularly as the country seeks to slash its reliance on China.
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